Interesting Tidbit-Out TodayProbe staking more pr
Probe Metals stakes another 179 claims on Val d'Or East
2020-05-05 07:38 ET - News Release
Dr. David Palmer reports
PROBE EXPANDS LAND PACKAGE AT VAL-D'OR EAST, QUEBEC
Probe Metals Inc. has staked an additional 179 claims contiguous to the Pascalis and Megiscane-Tavernier properties on its Val d'Or East project in Quebec. The new claims add 101 square kilometres to the current project land package, increasing it from 334 square kilometres to 435 square kilometres and extend the Megiscane-Tavernier property to the southeast (146 claims) and the Pascalis property to the northwest (33 claims). The new claims were staked along gold structures identified during regional exploration work and add highly prospective ground to the project. The Val-d'Or East land package represents one of the largest consolidated land packages in the Val-d'Or mining camp.
David Palmer, President and CEO of Probe states: "Owing to the success of our exploration programs, and our increasing understanding of the Val-d'Or East gold systems, we have expanded our property boundaries to include a number of highly prospective regional targets with excellent potential for new discoveries. We are fortunate to have a very strong treasury, with over $30 million in cash, which gives us the ability to continue advancing our project as we see these global gold markets strengthen. We hope to resume activities in the near future and look forward to maintaining our position as one of Canada's leading gold exploration companies in 2020."
The Pascalis and Monique properties, which encompasses most of the Company's gold resources now consists of 425 mining titles covering an area of 175 square kilometres. The new claims cover the western extension of a deformation corridor located between the Bourlamaque intrusive and the Garden Island Fault. Very little historic exploration work has been completed on these new claims.
The Megiscane-Tavernier property now consists of a large contiguous claim block comprising a total of 322 claims covering an area of 184 square kilometres, which encompasses four major deformation corridors. All four deformation corridors are highly prospective, with multiple gold showings along each, however, very little exploration work has been conducted in this area in the past. Recently, Probe performed a large VTEM survey and outlined numerous, promising targets which have never been drill tested. Recent field work, including new geophysical and geochemical surveys, indicate that gold mineralization is associated with strong Induced Polarization anomalies and elevated gold values in soil providing an effective tool for new target generation. Additional surveys and drilling are planned for 2020.
Figure 1 {&#A A ; –} Val-d'Or East Project
https://www.probemetals.com/site/assets/files/1470/pr-2020-apr-vde-project-fig1.pdfoperty at the edge of ours.